The Digital Governance Standards Institute (DGSI) and the Open Finance Network of Canada (OFNC) are happy to announce a 45-day public review for the first edition of the Technical Specification, DGSI/TS 140, Data Portability to Support Open Finance. The public review will be open from August 12, 2026 to September 28, 2026, providing financial institutions, fintechs, regulators, technology providers, consumer advocates, and other interested stakeholders with an opportunity to review the draft Technical Specification and submit comments before it is finalized.
DGSI/TS 140 establishes a national framework for secure, consumer-directed data portability to support open finance in Canada. The proposed Technical Specification defines technical, governance, privacy, and interoperability requirements that enable individuals and organizations to securely access, transfer, and share data while promoting consumer choice, innovation, and trust. It is designed primarily for the open finance ecosystem but also includes guidance that can support broader applications across sectors such as healthcare, telecommunications, and government services.
Key areas addressed by the proposed Technical Specification include:
- Consumer-directed data portability and consent management
- Privacy by design and security requirements
- Strong customer authentication and interoperable APIs
- Fraud prevention, cybersecurity, and risk management
- Data governance, accountability, and auditability
- AI data governance and traceability for ported data
- Complaint handling, accreditation, and ecosystem oversight
It should be noted that a Technical Specification is a type of deliverable in the Canadian standards system that doesn’t have the full rigor of the National Standards of Canada development process. The nomenclature of the deliverable speaks more to the process that is being used to develop the Framework rather than the technical requirements that will be found within the Framework. This Data Portability Framework is meant to provide guidance rather than be a technical requirements standard that speaks to requirements of API or security standards.
It has been a pleasure to work collaboratively across the industry on this Technical Specification which is now available for a 45-day public review. Thank you to all industry stakeholders who contributed their expertise to shaping this framework. A joint effort by the Digital Governance Council (DGC) and OFNC, this draft aims to serve as a highly practical, helpful guide for the ecosystem as Canada advances its data portability infrastructure. – Michelle Beyo, President, Open Finance Network Canada (OFNC)
As a Technical Specification, DGSI/TS 140 has been developed to respond to an urgent market need while gathering implementation experience and stakeholder feedback. Comments received during the public review will help inform revisions to the Technical Specification prior to publication.
DGSI encourages all interested parties to participate in the public review and help shape the future of secure, interoperable, and consumer-directed data portability in Canada’s evolving open finance ecosystem.
For more information and to participate in the public review, visit DGSI/TS 140.
The Digital Governance Standards Institute extends its appreciation to OFNC, the members of Technical Committee 10 (TC10) and all stakeholders whose expertise and contributions have made the development of this Technical Specification possible.
This collaboration between OFNC and DGC provides a powerful accelerator for organizations seeking to prepare for Open Banking, modernize their data strategies, and deliver next-generation digital financial services to Canadians.
Organizations interested in learning more or participating in this initiative can reach out to:
- Open Finance Network Canada (OFNC) Michelle Beyo: info@openfinancenetwork.ca
- Digital Governance Standards Institute (DGSI): Darryl Kingston darryl.kingston@dgc-cgn.org
This Technical Specification is being developed with funding support from the Standards Council of Canada (SCC) as part of its ongoing efforts to advance Canada’s standardization system and support the development of standards that address emerging priorities in the digital economy.
About the Digital Governance Standards Institute
The Digital Governance Standards Institute is Canada’s national leader in the development of digital governance standards. As an independent division of the Digital Governance Council, DGSI brings together experts from industry, government, academia, and civil society to develop consensus-based standards that promote trust, interoperability, privacy, cybersecurity, artificial intelligence, digital identity, and responsible digital governance. Through standards development, conformity assessment, and collaborative engagement, DGSI helps organizations adopt digital technologies with confidence while supporting innovation and the public interest.
About the Open Finance Network of Canada
Open Finance Network of Canada (OFNC) is a not-for-profit organization whose mission is to bring together all stakeholders from across financial services to advocate for data rights for Canadian consumers and businesses while highlighting the benefits of Open Banking and Open Finance for Canada.
About the Standards Council of Canada
The Standards Council of Canada is a federal Crown corporation that leads and facilitates Canada’s standardization system. SCC works with industry, governments, consumers, and other stakeholders to strengthen Canada’s economy, enhance public safety, support sustainable development, and improve the health and well-being of Canadians through standardization. SCC accredits standards development organizations and conformity assessment bodies and represents Canada’s interests in regional and international standards organizations.